$25,000 is invested for 6 months at an annual simple interest rate of 3%. (a) How much interest will be earned? $ (b) What is the future value of the investment after 6 months? $
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Given: Principal (P) = $25,000 Rate of interest (R) = 3% Time (T) = 6 months = 6/12 = 0.5 years Simple Interest (SI) = (P * R * T) / 100 SI = (25000 * 3 * 0.5) / 100 SI = 375 Show more…
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